Violation Tracker Individual Record
NASD censured and fined AXA Advisors, LLC $250,000 for failing to obtain sales charge waivers for mutual fund customers through net asset value (NAV) transfer programs. NASD also found that AXA, located in New York City, failed to have an adequate supervisory system in place to identify and provide customers with sales charge waivers to which they were entitled.
FINRA is a securities industry self-regulatory body authorized by the federal government. This case was handled by its predecessor, the National Association of Securities Dealers (NASD).